- We hosted Keppel DC REIT (SGX:AJBU) on a non-deal roadshow (NDR) in Bangkok. Key questions were regarding
- higher utilities costs,
- rising interest costs and
- acquisitions.
- - Read this at SGinvestors.io -
- Keppel DC REIT is able to pass through significantly above 90% of its electricity costs to colocation clients and has locked 2-year fixed rate contracts for its Singapore colocation assets commencing Jan 23.
- We hosted Keppel DC REIT (SGX:AJBU) on a non-deal roadshow (NDR) in Bangkok. Key questions were regarding
- higher utilities costs,
- rising interest costs and
- acquisitions.
- Shell & Core (S&C) and Fully Fitted (FF) assets account for 11.0% and 22.8% of Keppel DC REIT's Sep 22’s rental income, respectively; the remaining 66.2% was generated by its eight colocation assets in Singapore, Australia and Ireland.
- Management reiterated that electricity cost at Keppel DC REIT’s shell & core (S&C) and fully fitted (FF) assets are entirely borne by its data centre (DC) tenants.
- Keppel DC REIT is able to pass through significantly above 90% of its electricity costs to colocation clients and has locked 2-year fixed rate contracts for its Singapore colocation assets commencing Jan 23.
- On the topic of interest rate and forex impact, Keppel DC REIT highlighted that its weighted average debt tenor of 3.9 years indicates that the majority of its debts will expire in 2026 and beyond, while 74% of its debts are on fixed rates.
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LOCK Mun Yee CGS-CIMB Research | Natalie ONG CGS-CIMB Research | https://www.cgs-cimb.com 2022-12-12
Read also CGS-CIMB's most recent report:
2024-01-27 Keppel DC REIT - Turning Bearish On Missed Rental Payments.Previous report by CGS-CIMB:
2023-12-18 Keppel DC REIT - Too Soon To Speculate On Bluesea Fall Out.Price targets by 4 other brokers at Keppel DC REIT Target Prices.
Listing of research reports at Keppel DC REIT Analyst Reports.
Relevant links:
Keppel DC REIT Share Price History,
Keppel DC REIT Announcements,
Keppel DC REIT Dividends & Corporate Actions,
Keppel DC REIT News Articles
